Why Is the RuFT Still Reaching New Heights in Property Deals?
The Russian government has approved the introduction of a new currency, the RuFT, which will replace the present ruble. The head of the Central Bank of the Russian Federation, Olga Skoropadsky, announced at a meeting of the board of directors of the bank, that the RuFT would be legal tender in Russia. The RuFT will be issued without any restrictions or tariffs. Its official name is “the Russian Super Nickel.” The RuFT will become the first foreign currency in the world to be officially recognized as a legal tender for the trading of rubles.
The development of the RuFT was announced by President Hotel Group, together with Vasili Oschepkov, head of international trading. Oschepkov stated, “After many years of hard work and research the authorities of the Russian Federation have finally reached a decision in favor of the introduction of RuFT. At the same time, it is worthy to mention that the introduction of RuFT does not affect the rights of banks to hold and trade rubles per person under the existing laws of rubles. Oschepkov went on to say that the introduction of RuFT was done in order to help increase the income of the Russian citizens, since the price of rubles has remained consistent for the last few years. Besides, the central authorities have another aim of increasing the purchasing power of citizens within the next three to five years, so as to achieve their vision of a strong economic and political system in the country.”
The Central Bank of Russia is the sole owner of the RuFT, and its circulation is controlled by the central government. The decision to introduce ufa at a national level was carried out following many months of research by the Russian government and experts from ufa international airport. The reason cited by the ministry for introducing ufa was to strengthen the national currency and make the national economy more efficient. According to estimates made by the Russian authorities, the introduction of ufa at the point of entry into the country will help strengthen the ruble. This move will help to gain more foreign exchange revenue for the Russian government, while at the same time help to reduce the balance of payments for the RuFT and facilitate its trading.
The ban on trading the RuFT at the Russian market was created in order to protect the national financial system. At present, there are around one hundred and forty companies which trade the RuFT, but only a handful of them trade them through ufa. The ban was created so that foreign exchange traders will not be able to freely buy and sell rubles on the Russian market through the RuFT. ufa is an independent entity and was established in order to fill this void. The ban on trading the RuFT at the national level was created in order to strengthen the national currency at the RuFT market level.
The ban imposed on the RuFT by ufa also strengthens the position of Moscow as a strong economic, political, and currency center. In fact, many foreign investors have already started buying properties in Russia’s capital and are looking forward to develop their businesses in the major cities of Russia. At present most of the profitable real estate projects in Russia are being developed in Moscow, St. Petersburg, and the republic of bashkortostan (definite road).
Currently, Russia is seeing rapid development of its economy and a great influx of investment dollars. As such, it is quite obvious that the RuFT will continue to expand in scope. Whether you are thinking of purchasing Russian property abroad or investing in the RuFT, now is the best time to get in touch with ufa. ufa offers the most comprehensive and convenient buying and selling facilities available in the country. If you are thinking of investing in the RuFT, now is the time to do so!